ThomsonReuters

FEBRUARY 24, 2022

Hou, LLC v. It is uncertain, however, what recourse is available when the price (here, $900 per test) seems unreasonable. The post COVID-19 Testing Provider Sues Plans and TPAs for Violating Group Health Plan Coverage Mandate appeared first on Tax & Accounting Blog Posts by Thomson Reuters. United Healthcare Servs.,

Healthcare 98

Healthcare Tax Account accountant 98

LyfeAccounting

JUNE 4, 2021

Today’s post is all about how to pay yourself as an LLC. Here at LYFE Accounting, not only do we help people pay themselves correctly as an LLC… …but we’ve also started one of the fastest-growing LLCs according to Inc Magazine and the financial times in 2021. How to Pay Yourself as an LLC.

CPA 52

CPA income tax Tax accounting and finance 52

LyfeAccounting

JUNE 9, 2021

You decided that becoming an LLC was the best option. But what are the costs associated with starting an LLC? So today, we will go over LLC costs – the necessary costs of starting one and the costs that you can avoid. This is a necessary cost for your LLC as e very state has its own filing fee. LLC’s address.

Rhode Island 52

Rhode Island Nebraska Iowa Nevada 52

inDinero Tax Tips

JUNE 13, 2022

What is an S-Corp? What Are Some of the Benefits of a C-Corp vs. an S-Corp? Now that the definitions of C-Corp and S-Corp are established, what are the benefits of the C-Corp vs. an S-Corp? Now that the definitions of C-Corp and S-Corp are established, what are the benefits of the C-Corp vs. an S-Corp?

accrual accounting 40

accrual accounting income tax Legal Tax 40

inDinero Tax Tips

JUNE 13, 2022

What is an S-Corp? Check out these other blogs: Classifying Employees vs. Check out these other blogs: Classifying Employees vs. Independent Contractors. Cash vs. Accrual Accounting. Best Enterprise Accounting Software. What Are Some of the Benefits of a C-Corp vs. an S-Corp? Requirements for S-Corp Status.

accrual accounting 52

accrual accounting income tax Legal Tax 52

LyfeAccounting

NOVEMBER 9, 2020

?. LLCs are by far the most popular entity type amongst small businesses. But what exactly are the benefits of an LLC? And more importantly, what are the tax benefits of choosing an LLC over another entity? It is not meant to take the place of legal and accounting advice specific to your business.

Tax 52

Tax CPA tax return accounting and finance 52

Ryan Lazanis

SEPTEMBER 19, 2023

In this post, we’ll discuss key considerations for effective accounting website design and showcase a variety of inspiring examples that can guide your own creative approach. Remember, clients always look for what’s in it for them. Let’s go! If you just talk about yourself, your values, etc.,

Account 98

Account accountant accounted bookkeeping 98

LyfeAccounting

FEBRUARY 19, 2021

This type of LLC has only one owner. A single-member LLC is usually a business registered in the state where the company does business. The phrase “single member” is an admission that the LLC has one owner, and that owner is referred to as a member. A single member LLC has so many benefits that are shared with other LLCs.

Tax 52

Tax income tax tax return accounting and finance 52

LyfeAccounting

MAY 12, 2021

Wondering If Your Business Should Be An LLC Or C-Corp? LLC vs C-Corp – do you know the difference between the two? Keep reading because this post will take a deep dive into LLC vs C-Corp, and also discuss which might be best for your business. Key Differences Between LLC Vs C-Corp. Most LLCs are single-member.

CPA 52

CPA Legal Tax tax return 52

LyfeAccounting

JULY 27, 2021

So do you need more than one LLC for your rental properties? 3 Factors to Consider If You Want Multiple LLCs for Real Estate Investing. The management of having multiple LLCs. The costs of having multiple LLCs. Let’s start off by quickly answering… Why Would You Want Multiple LLCs for Real Estate Investing?

Real Estate 52

Real Estate Legal accounting and finance Start-ups 52

CPA Practice

JULY 21, 2023

Today, they account for 99.9% Rather than starting from scratch, spend time evaluating what your biggest competitors are doing. Remember: Your customers are watching what you do. By Angela Ruth, Kiplinger Consumer News Service (TNS) Small businesses have a huge economic impact in the United States. Chamber of Commerce.

Washington 98

Washington accounting and finance Start-ups Finance 98

LyfeAccounting

MARCH 25, 2021

As an accounting firm, we get asked all the time. “What should my business entity be? I heard that I should have an LLC.” ” Well, the truth is, sometimes you need an LLC, and guys, sometimes you don’t. We got 6 disadvantages of LLC and reasons why you don’t need an LLC. Let’s get into it!

Legal 52

Legal Tax accounting and finance accounting firms 52

LyfeAccounting

APRIL 30, 2021

Today, we’ll be going over the top 5 write offs you could be taking for your LLC this year, next year, and the next year after that. There are over 20M LLCs in the US today. Chances are if you’re reading this post, you have an LLC, or at least are thinking about starting one of your own. Are you ready? Cellphone Expenses.

Tax 52

Tax Real Estate tax planning accounting and finance 52

Snyder

JUNE 13, 2022

What Is an EIN? Businesses use EINs for a variety of purposes, including opening business bank accounts, filing taxes, and hiring employees. Keep in mind that simply getting an EIN won’t help you with your taxes–you need a tool that provides accounting for Shopify to keep all your tax related information updated. .

payroll 52

payroll payroll tax Tax Legal 52

LyfeAccounting

JULY 19, 2021

Let’s talk about how to buy rental properties with an LLC, otherwise known as a limited liability company. Now whether you are an aspiring real estate investor or a current real estate investor, you may want an LLC for various different reasons like having a tenant that’s a little “sketchy?”. Keep reading!

Real Estate 52

Real Estate accounting and finance Legal Nevada 52

Nancy McClelland, LLC

DECEMBER 26, 2023

WHAT’S NEW (or isn’t) FOR 2023: – Beginning in 2022, the 1099-NEC was made so that it’s no longer year-specific; there are no changes to the form for 2023. So, keep in mind that a company can be an LLC but be taxed as a corporation. Here’s a crash course for each type of form, followed by an FAQ.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

Nancy McClelland, LLC

DECEMBER 26, 2023

WHAT’S NEW (or isn’t) FOR 2023: – Beginning in 2022, the 1099-NEC was made so that it’s no longer year-specific; there are no changes to the form for 2023. So, keep in mind that a company can be an LLC but be taxed as a corporation. Here’s a crash course for each type of form, followed by an FAQ.

bookkeeping 52

bookkeeping tax return Non-Profits Tax 52

LyfeAccounting

MAY 18, 2021

You have good intentions and want to do the right thing but not exactly sure of what to do. Tax Mistake #1: Not having a separate bank account. The first tax mistake that we see new business owners make is not having a separate bank account for just their business. Let us break down what estimated quarterly tax payments are.

Tax 52

Tax tax return accounting and finance Real Estate 52

LyfeAccounting

DECEMBER 1, 2020

Before I give you the step-by-step on how to incorporate your business, it’s important to first understand what incorporating means. What is Incorporating a Business? What is Incorporating a Business? Not to be confused with an LLC. Here is what this process looks like for Georgia. You proceed with incorporating.

bookkeeping 52

bookkeeping accounting and finance Georgia Tax 52

Withum

SEPTEMBER 14, 2022

Subchapter S corporation reasonable compensation : Perhaps the worst kept secret in entity planning is using a S corporation rather than an LLC or sole proprietorship. Income from S corporations, unlike that of partnerships, LLCs or sole proprietorships, is not subject to self-employment tax. There’s even YouTube videos on this topic.

Tax 105

Tax tax return audit Entertainment 105

LyfeAccounting

MARCH 5, 2021

Sole proprietor vs LLC vs S-Corp vs. C-Corp – which one should you choose? For example, you can register your business as an LLC with your state for legal purposes, but elect to be taxed as an S-Corp with the IRS for tax purposes. Tax Differences: What Are The Taxes Involved For All Entities? Pass-through Taxation.

Tax 52

Tax Legal tax return Non-Profits 52

LyfeAccounting

OCTOBER 12, 2020

And that is: Should I be an S-Corp or an LLC? I just saved one of my clients over $95,000 in tax expenses from making a simple entity change from an LLC to an S-Corp. Heck, a lot of people just follow the crowd and say “I’ll register as an LLC” and have no idea what extra taxes they’re going to be paying. Sound good?

income tax 52

income tax Tax Legal CPA 52

ThomsonReuters

JULY 6, 2023

In today’s ultra-competitive business landscape, being an accountant means far more than preparing tax returns or compiling financial statements. But what does accounting advisory mean and how can your firm take advantage of this unique opportunity to showcase your knowledge and build deeper relationships with your clients?

Account 88

Account accountant accounted tax return 88

LyfeAccounting

FEBRUARY 9, 2021

?. What are the tax benefits of S-Corps? And here’s a quick note: We recently saved our client over $95,000 in taxes by making one small change – you guessed it right, helping her switch from an LLC to an S-Corp. Active Owner of an LLC Taxed as an S-Corporation. 100k as an LLC Distribution. Comparable salary.

Tax 52

Tax audit New Hampshire income tax 52

Going Concern

NOVEMBER 20, 2023

Here’s an article from AccountancyAge on mental health in the profession : In the precise and structured realm of accounting, the topic of mental health is often an overlooked narrative. Behind the precision of financial statements and the clarity of audits, accountants confront a set of unique challenges. Congrats to both!

Account 69

Account accountant accounted audit 69

ThomsonReuters

MARCH 13, 2023

LLC.  More recently, in April 2022, New Mountain Capital announced a majority investment in professional services firms Citrin Cooperman.  These investments marked a notable transformation in the profession, with the realization among private equity firms that investing in large accounting firms can yield great returns.

Technology 59

Technology accounting firms Tax audit 59

ThomsonReuters

MARCH 1, 2024

How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs). What IRS tax forms do S corps file? What are the tax advantages of an S corporation?

corporation tax 52

corporation tax Tax tax return income tax 52

ThomsonReuters

AUGUST 3, 2021

But why are APIs so important to CPAs and how does an accountant learn about APIs if they don’t have a technical background? . About Ford Baker, CPA & CEO BaCo Tech & BaCo Group: Ford has over 35 years of experience in the accounting industry. As an accountant, please describe what an API is? .

CPA 59

CPA Technology cpas accounting software 59

LyfeAccounting

OCTOBER 16, 2020

I’m excited to share with you what I’ve learned about how to start a business in 2020. So today, we’re going to make it easier for you and break down what you need to do step-by-step. Now sure, you won’t have it all figured out on day 1, but you should definitely ask yourself these questions: What problem does your business solve?

accounting and finance 52

accounting and finance Start-ups Legal Tax 52

LyfeAccounting

JULY 28, 2021

You get a tax write-off for the pay you give them and in turn, your kids (or you) can use that income tax-free to help provide for what they need. And what makes this a very important number is that when you hire your kids, if you pay them $12,400 or less, they are not required to file or pay taxes on their income! It’s simple.

Tax 52

Tax payroll payroll tax Real Estate 52

LyfeAccounting

JUNE 11, 2021

But what in the world is a reasonable salary? What is an S-Corporation? Let’s start by telling you what it is not. You might be able to choose a partnership, LLC, or C-Corporation though. Entities like LLCs and C-Corporations have the option to elect to be treated as an S-Corporation for tax purposes.

Non-Profits 52

Non-Profits payroll Tax payroll tax 52

LyfeAccounting

NOVEMBER 4, 2020

The only difference between a sole proprietorship and a single-member LLC is an LLC legally protects the owner’s assets in case of a lawsuit. A completed schedule C will show your sole proprietorship or single-member LLC’s income and expenses for the tax year. Sound good? Let’s get started! The owner has limited liability.

business tax 52

business tax Tax tax return payroll tax 52

LyfeAccounting

JANUARY 30, 2021

And if you have been adhering to our suggestions or taken advantage of the tax system in 2020 then you likely know what to expect and excited for this tax year. Regardless of where you are our team at, LYFE Accounting specializes in business tax returns and we’re ready to help you this year. ?. Tax season 2021 is here! March 1, 2021.

Tax 52

Tax tax return bookkeeping bookkeeping services 52

LyfeAccounting

JUNE 30, 2021

Now, we know what you might be thinking, “ But I am just starting out and don’t have any of these things, plus I don’t have perfect credit either.” This can be in the form of incorporating or forming an LLC. Speaking of forming an LLC, we have a post that tackles the various LLC costs for you to establish your own LLC.

Real Estate 52

Real Estate financial statements accounting and finance Start-ups 52

ThomsonReuters

NOVEMBER 2, 2021

For example, unlike a corporation, a limited liability company (LLC) is not a separate tax entity, so it does not pay federal income taxes (although some states do require LLCs to pay taxes). By default, a corporation other than an LLC in the U.S. Does every corporation file income tax returns? Every company in the U.S.

tax return 59

tax return corporation tax income tax Tax 59

PYMNTS

MARCH 13, 2020

Stemming from a popular blog and a popular Pinterest account, Oh Happy Day was started by design visionary Jordan Ferney, who sold the company to Natalie and Jake Bowman of Equals Awesome, LLC of Tacoma, Washington. The Oh Happy Day brand started as a blog and grew into a party movement.

Alaska 60

Alaska Washington Retail Start-ups 60

ThomsonReuters

JUNE 15, 2021

Use of Special purpose acquisition (SPAC) vehicles have spiked over the past year because private equity and venture capital firms have excess cash they need to put to work, accounting practitioners said mid-June. To avoid financial reporting woes, accounting teams said the SPAC-IPO marketplace should be mindful of the following: #1.

Account 64

Account accountant accounted auditor 64